In a groundbreaking move for women’s sports, Unrivaled, a new three-on-three women’s basketball league, has successfully closed its Series A funding round, raising an impressive $35 million in 2024. Founded by WNBA stars Napheesa Collier and Breanna Stewart, the league aims to provide additional income opportunities for WNBA players during the off-season.
Investment highlights
The funding round was led by the Berman Family, with notable investors including NBA star Giannis Antetokounmpo, University of South Carolina women’s basketball coach Dawn Staley and USC star guard JuJu Watkins. According to Unrivaled president Alex Bazzell, the investment reflects the growing potential of women’s sports.
“Our players haven’t even taken the court yet, and the foundation we are building with our partners unites unparalleled expertise, strategic insight and an incredible product,” Bazzell stated in a press release. This sentiment underscores the optimism surrounding the league’s future.
JuJu Watkins: A visionary investment
JuJu Watkins, a sophomore standout, has expressed a clear intention to invest in Unrivaled, distinguishing her commitment from typical NIL deals. Bazzell emphasized the importance of having investors who share a long-term vision rather than seeking quick returns. “You need people that can see a vision and aren’t worried about ‘How quickly can you exit?’ ” he explained.
Player salaries and equity
Unrivaled has set an ambitious starting salary pool of $8 million for its players, with an average salary projected at $242,000. This figure is notably higher than the current maximum salary cap of $214,000 in the WNBA. If all 48 player slots are filled, the average salary would decrease slightly to $222,000.
In addition to competitive salaries, each athlete will receive a stake of equity in the league, enhancing the overall value of their contracts. Bazzell has also confirmed that the selected coaches will possess strong backgrounds in player development, ensuring that the athletes receive the best possible training and support.
League structure and future plans
The league is set to kick off on Jan. 17 and will run for nine weeks. Plans are in place for a dedicated venue in Miami, which will not only host games but also include essential facilities such as a childcare center for players. This focus on player welfare highlights Unrivaled’s commitment to creating a supportive environment for its athletes.
The growing market for women’s sports
Bazzell pointed out that the landscape for women’s sports is ripe for growth. “The data is clear,” he said. “When you look at women’s sports and where it’s going, it’s not an oversaturated market right now.” This statement reflects the unique opportunity that Unrivaled has to carve out a significant niche in the sports industry.
As viewership numbers for women’s basketball continue to rise, the league is poised to capitalize on this momentum. Bazzell believes that the upcoming years will see substantial growth in women’s sports, making Unrivaled a potentially pivotal player in this evolution.
Unrivaled represents a significant step forward for women’s basketball, not only in terms of financial investment but also in fostering a community that prioritizes the development and well-being of its players. With a strong foundation and a clear vision for the future, Unrivaled is set to make waves in the sports world, paving the way for future generations of female athletes.
